Australian fashion industry faces retail upheaval

The Australian fashion industry is experiencing a significant transformation as established retailers face collapse or restructuring. Recent developments include the descent of womenswear brands Cue and Veronika Maine into administration and receivership.

Mosaic Brands, which operated budget retailers such as Katies, Rivers, Noni B, and Millers, collapsed following market pressures, resulting in the loss of nearly 3,000 jobs and the closure of over 700 stores. Other brands, including Alice McCall, Dion Lee, Alannah Hill, and Gorman, have also faced challenges. Additionally, the swimwear brand Seafolly collapsed during the COVID-19 pandemic before being rescued by LVMH.

This shift is driven by intense competition and a rise in e-commerce, with Australia Post reporting $11.6 billion in online fashion and apparel spending. Stylists note a growing gap in the market for professional women who find themselves caught between youthful fashion, activewear, and high-end designer labels.